SMEs ignorant of pensions auto-enrolment staging date

Over two-thirds of small and medium-sized enterprises (SMEs) do not know their auto-enrolment staging date, according to a new survey of 750 SMEs by HW Fisher and Company, a London firm of chartered accountants. 49% said they understood little or nothing about the changes they will need to make, while 77% said they had done nothing to prepare for auto-enrolment.

All UK employers have been separated into a large number of bands according to their size, with each band being assigned a particular monthly staging date from which they will be obliged to start the enrolment processes. The staging date for businesses that have between 50 and 249 employees is between 1 April 2014 and 1 April 2015. The staging date for businesses that have fewer than 50 employees is between 1 June 2015 and 1 April 2017.